Earlier this year, BankNewport announced its second year partnership with Rogers High School in Newport, Rhode Island, to sponsor a youth financial literacy program during the 2012-2013 academic school year. The program was developed to complement the high school's personal financial education initiative for students.
Monthly classroom presentations continue to be conducted by BankNewport's management team on topics including: Careers, Savings, Checking Accounts, Debit Cards, On-Line Banking, On-Line Bill Payment, Electronic Banking, Financial Planning, Credit and Budgeting. Bank representatives provide basic information on these topics to help the students increase their understanding of the importance of managing their personal finances in order to be prepared for the financial challenges and lifestyle decisions they will face as adults.
“Having strong financial skills is so important in the larger framework of how to manage one’s everyday life,” stated BankNewport President and Chief Executive Officer, Sandra J. Pattie in a previous statement. “The opportunity for our team to share their expertise with the students at Rogers High School is extremely rewarding. We want them to be knowledgeable and confident in their financial choices, and achieve success as future employees, parents and members of our community.”
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During the most recent presentations, Bank representatives reviewed financial planning and saving for the future, investing in individual or employer sponsored retirement programs, types and sources of credit, ways to establish good credit, as well as what encompasses credit reports and credit scores.
Prior presentations introduced the students to strategies for selecting and developing a successful career, the benefits of establishing savings and checking accounts and participated in a demonstration of online banking and bill payment electronic services. The final presentation in late March will focus on the importance of monthly budgeting.
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After completing the financial education curriculum, the students at Rogers High School will participate in a culminating event, a Financial Education Fair sponsored by BankNewport. The Fair is a highly interactive simulation and places students through a realistic budgeting experience during which they will make a series of spending decisions similar to the types made by a young adult. The Fair is scheduled on April 10, 2014 at Rogers High School.
BankNewport, founded in 1819 and currently holding $1.2 billion in assets, is an FDIC-insured savings bank and is a subsidiary of the Mutual Holding Company, OceanPoint Financial Partners, MHC. Along with its financial partner, OceanPoint Insurance Agency, Inc., BankNewport is proud to serve the financial needs of customers from banking and insurance offices located throughout southeastern New England.
